{"id":604334,"date":"2024-04-21T13:00:35","date_gmt":"2024-04-21T13:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=604334"},"modified":"2024-06-11T06:59:20","modified_gmt":"2024-06-11T06:59:20","slug":"were-bitcoin-miners-behind-the-btc-price-crash-below-60000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/","title":{"rendered":"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The price of <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-rebounds-strongly-after-59579-rejection\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Bitcoin fell drastically<\/span><\/a><span style=\"font-weight: 400\"> towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what could very well be the reason for this price dip in the middle of all the <\/span><a href=\"https:\/\/bitcoinist.com\/scaramucci-sets-bitcoin-long-term-growth-at-200000\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">excitement around the halving<\/span><\/a><span style=\"font-weight: 400\">. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-fueled-up-320-million-usdt-inflow-could-ignite-price-surge\/\" target=\"_blank\" rel=\"noopener \">Ethereum Fueled Up: Will 320 Million USDT Inflow Ignite Price Surge?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Particularly, data has revealed that <\/span><a href=\"https:\/\/bitcoinist.com\/by-the-numbers-much-profits-bitcoin-whales-miners\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">some miners<\/span><\/a><span style=\"font-weight: 400\"> have been selling their holdings in the days leading up to the halving event, with the entire BTC holdings of miners hitting a 12-year low.\u00a0<\/span><\/p>\n<h2><b>Miners&#8217; Bitcoin Holdings Hit 12-Year Low<\/b><\/h2>\n<p><span style=\"font-weight: 400\">On-chain analytics platform IntoTheBlock noted this interesting trend amongst Bitcoin miners. According to the platform&#8217;s &#8220;Miners&#8217; Bitcoin Holdings,&#8221; the collective BTC reserve across various miners has now dropped below 1.9 million BTC, its lowest in over 12 years. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, the metric shows that miner reserves have been on a continued trend of outflows since the beginning of the year, just after the approval of Spot Bitcoin ETFs. This means the outflow from miner wallets can be linked to increased demand from the various Bitcoin ETF wallets, with the latter now controlling over 4.27% of the total circulating wallets.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">As Bitcoin goes into the halving, miners&#8217; BTC holdings hit 12 year low. This indicates that miners have been net sellers leading up to the halving. <a href=\"https:\/\/t.co\/WNi74RkluG\" rel=\"nofollow\">pic.twitter.com\/WNi74RkluG<\/a><\/p>\n<p>\u2014 IntoTheBlock (@intotheblock) <a href=\"https:\/\/twitter.com\/intotheblock\/status\/27783861?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 19, 2024<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">At the time of writing, CryptoQuant data puts the total number of miner reserves at 1.818 million BTC, a decrease of 22,000 BTC from 1.84 million on January 3. Additionally, this outflow from the miner reserves was exacerbated in the days leading up to the halving, as noted by IntoTheBlock.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-604335\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_5bd0c4.png?resize=670%2C363\" alt=\"\" width=\"670\" height=\"363\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_5bd0c4.png?w=670 670w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_5bd0c4.png?w=460 460w\" sizes=\"(max-width: 670px) 100vw, 670px\"><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis indicates that miners have been net sellers leading up to the halving,\u201d IntoTheBlock said in a social media post.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The persistent selling pressure exerted by miners may have been a contributing factor in Bitcoin&#8217;s stagnant pace between $65,000 and $70,000 over the past weeks. This outflow of BTC from miner wallets into the market seems to have flooded the market with more than enough BTC, which in turn contributed to a crash to $60,000 during the week.\u00a0\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/QlKIMjYY\/\" width=\"1835\" height=\"883\"><\/p>\n<pre style=\"text-align: center\">Bitcoin is now trading at $64.906. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<h2><b>What\u2019s Next For Bitcoin?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The practice of Bitcoin miners <\/span><a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-miners-sell-halvings-time-different\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">selling their holdings<\/span><\/a><span style=\"font-weight: 400\"> in the days leading up to the halving is not unusual, as demonstrated by their actions in past halving events. At the time of writing, Bitcoin is trading at $64,978, up 8% after rebounding up at $60,000. The much anticipated <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/halving-block-bitcoin-840000\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">fourth Bitcoin halving<\/span><\/a><span style=\"font-weight: 400\"> has now been completed and the industry <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/fourth-bitcoin-halving-completed\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">looks forward to its effect<\/span><\/a><span style=\"font-weight: 400\"> over the next few months.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-shib-price-jumps-on-growing-support-from-1-4-million-holders\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu (SHIB) Price Jumps On Growing Support From 1.4 Million Holders<\/a><\/div>\n<p><span style=\"font-weight: 400\">The halving is ultimately a balancing act for miners. Although miners\u2019 revenues are cut in half, the reduced Bitcoin supply and possible price increase can help offset some of the losses over time. <\/span><a href=\"https:\/\/x.com\/10x_Research\/status\/77876191\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">According to a report<\/span><\/a><span style=\"font-weight: 400\">, Bitcoin miners could sell up to $5 billion worth of BTC after the halving, with the price of the cryptocurrency potentially falling to $52,000.<\/span><\/p>\n<p><em>Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what could very well be the reason for this price dip in the middle of all the excitement around the halving. Related Reading: Ethereum Fueled Up: Will 320 Million USDT Inflow Ignite Price Surge? Particularly, data has revealed that some miners have been selling their holdings in the days leading up to the halving event, with the entire BTC holdings of miners hitting a 12-year low.\u00a0 Miners&#8217; Bitcoin Holdings Hit 12-Year Low On-chain analytics platform IntoTheBlock noted this interesting trend amongst Bitcoin miners. According to the platform&#8217;s &#8220;Miners&#8217; Bitcoin Holdings,&#8221; the collective BTC reserve across various miners has now dropped below 1.9 million BTC, its lowest in over 12 years. Interestingly, the metric shows that miner reserves have been on a continued trend of outflows since the beginning of the year, just after the approval of Spot Bitcoin ETFs. This means the outflow from miner wallets can be linked to increased demand from the various Bitcoin ETF wallets, with the latter now controlling over 4.27% of the total circulating wallets. As Bitcoin goes into the halving, miners&#8217; BTC holdings hit 12 year low. This indicates that miners have been net sellers leading up to the halving. pic.twitter.com\/WNi74RkluG \u2014 IntoTheBlock (@intotheblock) April 19, 2024 At the time of writing, CryptoQuant data puts the total number of miner reserves at 1.818 million BTC, a decrease of 22,000 BTC from 1.84 million on January 3. Additionally, this outflow from the miner reserves was exacerbated in the days leading up to the halving, as noted by IntoTheBlock. \u201cThis indicates that miners have been net sellers leading up to the halving,\u201d IntoTheBlock said in a social media post. The persistent selling pressure exerted by miners may have been a contributing factor in Bitcoin&#8217;s stagnant pace between $65,000 and $70,000 over the past weeks. This outflow of BTC from miner wallets into the market seems to have flooded the market with more than enough BTC, which in turn contributed to a crash to $60,000 during the week.\u00a0\u00a0 Bitcoin is now trading at $64.906. Chart: TradingView What\u2019s Next For Bitcoin? The practice of Bitcoin miners selling their holdings in the days leading up to the halving is not unusual, as demonstrated by their actions in past halving events. At the time of writing, Bitcoin is trading at $64,978, up 8% after rebounding up at $60,000. The much anticipated fourth Bitcoin halving has now been completed and the industry looks forward to its effect over the next few months.\u00a0 Related Reading: Shiba Inu (SHIB) Price Jumps On Growing Support From 1.4 Million Holders The halving is ultimately a balancing act for miners. Although miners\u2019 revenues are cut in half, the reduced Bitcoin supply and possible price increase can help offset some of the losses over time. According to a report, Bitcoin miners could sell up to $5 billion worth of BTC after the halving, with the price of the cryptocurrency potentially falling to $52,000. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":604342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,8856,1119,11450],"class_list":["post-604334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving","tag-btc","tag-crypto-mining"],"acf":[],"yoast_head":"\n<title>Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?<\/title>\n<meta name=\"description\" content=\"The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?\" \/>\n<meta property=\"og:description\" content=\"The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-21T13:00:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T06:59:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016\" \/>\n\t<meta property=\"og:image:width\" content=\"6016\" \/>\n\t<meta property=\"og:image:height\" content=\"4016\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Matherson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/MathersonScott\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Scott Matherson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/\"},\"author\":{\"name\":\"Scott Matherson\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d\"},\"headline\":\"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?\",\"datePublished\":\"2024-04-21T13:00:35+00:00\",\"dateModified\":\"2024-06-11T06:59:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/\"},\"wordCount\":505,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016\",\"keywords\":[\"bitcoin\",\"Bitcoin Halving\",\"btc\",\"crypto mining\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/\",\"url\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/\",\"name\":\"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016\",\"datePublished\":\"2024-04-21T13:00:35+00:00\",\"dateModified\":\"2024-06-11T06:59:20+00:00\",\"description\":\"The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016\",\"width\":6016,\"height\":4016,\"caption\":\"Bitcoin\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d\",\"name\":\"Scott Matherson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g\",\"caption\":\"Scott Matherson\"},\"description\":\"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott\"],\"url\":\"https:\/\/uniquehot.com\/author\/mathersonscott1\/\"}]}<\/script>\n","yoast_head_json":{"title":"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?","description":"The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/","og_locale":"en_US","og_type":"article","og_title":"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?","og_description":"The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what","og_url":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-04-21T13:00:35+00:00","article_modified_time":"2024-06-11T06:59:20+00:00","og_image":[{"width":6016,"height":4016,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016","type":"image\/jpeg"}],"author":"Scott Matherson","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/MathersonScott","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Scott Matherson","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/"},"author":{"name":"Scott Matherson","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d"},"headline":"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?","datePublished":"2024-04-21T13:00:35+00:00","dateModified":"2024-06-11T06:59:20+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/"},"wordCount":505,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016","keywords":["bitcoin","Bitcoin Halving","btc","crypto mining"],"articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/","url":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/","name":"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016","datePublished":"2024-04-21T13:00:35+00:00","dateModified":"2024-06-11T06:59:20+00:00","description":"The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016","width":6016,"height":4016,"caption":"Bitcoin"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d","name":"Scott Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?","url":"http:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin halving","btc","crypto mining"],"dateCreated":"2024-04-21T13:00:35Z","datePublished":"2024-04-21T13:00:35Z","dateModified":"2024-06-11T06:59:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Were Bitcoin Miners Behind The BTC Price Crash Below $60,000?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/were-bitcoin-miners-behind-the-btc-price-crash-below-60000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_3e80ac.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_3e80ac.jpg?fit=6016%2C4016\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin halving\",\"btc\",\"crypto mining\"],\"dateCreated\":\"2024-04-21T13:00:35Z\",\"datePublished\":\"2024-04-21T13:00:35Z\",\"dateModified\":\"2024-06-11T06:59:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/a_3e80ac.jpg?fit=6016%2C4016","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/604334"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=604334"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/604334\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/604342"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=604334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=604334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=604334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}